1) Identify the exit
strategy you plan to make. Do you intend to sell your business in the next 5
years for a large return? Do you intend to stay with the business for several
decades and retire? Do you intend to protect the venture as a family business,
and pass it down to your children?
If my business were to be a success, I would stick with it until
I am able to retire and then pass it down to my kids.
2) Why have you
selected this particular exit strategy?
I want my kids to have success in their future, and if taking
over my business will do that for them, then great! It would also be nice
knowing that my business is in good hands and will continue to succeed and
flourish after I have retired. I would hope it would then get passed down to
grandchildren and farther down the line.
3) 3) How do you
think your exit strategy has influenced the other decisions you've made in your
concept? For instance, has it influenced how you have identified an
opportunity? Has it influenced your growth intentions or how you plan to
acquire and use resources?
I think that sticking with this business for the long run has
influenced my decisions in a way that I take this business much more seriously
and plan for big growth that will last many years to come. It has acquired me
to use my resources wisely and plan not only for the present but for the future
as well.
Hi, I think that it is really cool that if your business is successful then you would like to eventually pass it down to your kids. I think that the idea of a family business is lovely. I would also love to be able to set up my kids for success; however, I did plan to sell my business after five years to pursue other interests. Great job!
ReplyDeleteHi Julia, I chose a similar exit strategy as you. If my business were to stay profitable and not lose money, I would pass it down to my next generations. I really believe in my product and business and would hope it succeeds as I am sure you feel the same about your product and business. Keep up the great work
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